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Property profile & analytics
OFF-MARKET
Estimated value
$67,715,000
Hospitals
2520 Cherry Ave Bremerton, WA 98310-4229
Individually Owned
33-yr Hold
Free & Clear
Property ID
US90-1534208
Property profile
Verified
Property type
Hospitals
Use group
HOSPITAL - PRIVATE
Year built
1964
Total area
261,462 SF
Lot
7.31 ac (318,424 SF)
Zoning code
CITY
APN
3967-004-001-0402
UPID
US90-1534208
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Rahn Kathryn M MD Physician
-
Brand Timothy C MD Physician Medical Clinic
-
Dr. Bryan Wooldridge Pediatrician Physician
-
Scott Davarn, MD Physician
-
Harris Medical Center Urology Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$71.64M
Comparable Approach
Comparable
$84.99M
Blend (final)
Blend
$67.72M
Owner & transaction history
Harrison Hospital Foundation · 33 yrs held
Harrison Hospital Foundation
since 1992
2 recorded transactions
Zoning & alternative use
CITY · Bremerton, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$92.8M
+46.2%
Neighborhood: shopping center
$66.7M
+5.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bremerton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bremerton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$77,605,000
6.5%
$71,635,000
7%
$66,515,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$63,485,000
Current use
RESTAURANT
$92,820,000
Change: +46% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$66,705,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$67.72M
Range $60.94M – $74.49M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$259 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Assessed value
$63,652,370
Assessed 2024
Previous assessed
$75,204,360
-15.4% YoY
Assessed land
$607,770
Assessed improvement
$63,044,600
Land market value
$607,770
Improvement market value
$63,044,600
Total market value
$63,652,370
Applied tax rate
60.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hospitals
Use group
HOSPITAL - PRIVATE
Status
Off-Market
Year built
1964
Heating
NONE
Stories
5
Total area
261,462 SF
Lot
7.31 ac (318,424 SF)
Zoning code
CITY
APN
3967-004-001-0402
UPID
US90-1534208
Jurisdiction
KITSAP
Zoning & alternative use
CITY · Bremerton, WAZoning CITY · permitted uses
CITY · Bremerton, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$63.5M
RESTAURANT
Est. value
$92.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$66.7M
MEDICAL BUILDING Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1964
Heating
NONE
Stories
5
Lot
7.31 ac
Current owner
From public records · entity-resolved
Harrison Hospital Foundation
Individual
Free & Clear · 33 yrs held
Mailing address
2520 CHERRY AVE, BREMERTON, WA 98310-4229
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1992
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 8, 1992
—
Harrison Hospital Foundation
Unknown
Grant Deed
related
—
—
—
Harrison Medical Center
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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